The Drilldown: US weighs future energy investment in Iran

Despite its current sanctions on Iran, United States representatives are in Tehran this week to “review energy investment opportunities,” Reuters reports. “It is forecast that by the visit of (the) American delegation this week and in the case of lifting sanctions on Iran’s oil industry, we will witness involvement of major international American oil and gas companies in Iran in the future,” Iran’s deputy oil minister said.

The Mining Association of Canada (MAC) is taking issue with a provision in the government’s new transparency act for the extractive sector, which the association’s head suggests could hurt the mining sector. “Good relations with First Nations are absolutely critical to our business and the last thing we need is for governments to do something that in some way undermines that,” president and CEO Pierre Gratton told iPolitics. Accordingly, MAC is adamant that Ottawa consult aboriginals.

International

Saudi Arabia is decoupling state-owned Saudi Aramco, the world’s largest oil and gas company, from the kingdom’s energy ministry, Reuters reports. The state is doing so by re-appointing some of Saudi Aramco’s top brass to different positions, which some analysts say “might be the first step in a shake-up of the Saudi energy sector.”

Noteworthy

The Yukon government and the Kwanlin Dün First Nation on Friday signed an investment agreement, which the community’s chief says will benefit its people financially, CBC news reports. “Part of my job is to generate wealth for our community,” Chief Doris Bill is quoted in an article. “We looked at this agreement, we did our due diligence on it, we hired an independent firm to look at the deal and we have concluded that this would benefit our community.”